From an investment perspective, we have been working hard on the opportunities we have been presented this week, with many of my staff conducting viewings across the UK, weather permitting. I inspected a small new-build (not quite finished) apartment complex which on the surface appeared to be a good prospect, until our lawyer looked into the detail and found a "house of horrors."

This is the key point. I know of investors and even some companies making offers for bank repossessed property without conducting thorough due diligence. Although this costs money and may not even result in you making an offer, "blind" buying is not a sensible investment option.

We have had considerable interest for UK distressed property assets from our Irish investors, many of whom are cash-rich with Euros. Although property prices in the UK have fallen on average by about 16%, and bank repossessed properties can be bought for up to 50%+ below previous selling prices, the strength of the Euro adds an extra 20% of value for the Irish.

We will be back in Dublin and Cork shortly for a presentation to clients on how to maximise opportunities in the UK and to use the exchange rate to your advantage.

Our “Understanding Economics To Beat The Recession” 3 day course takes place in Liverpool in two weeks time. Without doubt present economic circumstances are presenting business people and investors with opportunities not seen in my lifetime.

This course is designed to give you an insight into workings of the economy, how economic decisions impact businesses and when is the right time to make your decisive move.

Dominic Farrell